The Royal Hotel, located in the heart of the idyllic north-eastern town of Benalla has come to market, offering a competitively priced opportunity to acquire a well-established business with genuine upside. The leasehold interest in the Royal Hotel is being exclusively offered for sale by JLL Hotels & Hospitality Group via Private Treaty at a price guide of ‘offers over $7,000,000’.

Presenting in excellent condition throughout with recent refurbishments completed, the hotel features a large bistro with internal capacity of 453 patrons, children’s indoor playground, sports bar and gaming lounge housing 30 electronic gaming machines. The recent addition of a deck area delivers further outdoor trading space which overlooks the beautiful Benalla Botanic Gardens adjacent to the property.

Lachlan Persley, Executive, JLL Hotels & Hospitality Group anticipates the hotel to be hotly contested amongst both existing operators and new entrants to the market. “What our team have identified this year is that regional Victorian hotel opportunities, if priced correctly, can often reach a successful conclusion in quick fashion. There is no better example than the recent leasehold transaction of the National Hotel in Bendigo, which was only on market for six weeks,” he said.

Given the price point and its genuine future upside, we believe the Royal Hotel can deliver on the same positive trend witnessed recently in our regional market,” he concluded.

Offered with a long lease of 36 years (including options), the offering also includes a sub-lease to a ‘BWS’ branded drive-through bottle shop (leased to ASX-listed Endeavour Group), providing additional income. A 3am late night general licence is also on offer, with a generous total patron capacity of 631.

Will Connolly, Senior Vice President, JLL Hotels & Hospitality Group, commented “In just the past six weeks, our team have transacted in excess of $38m of regional Victorian pubs. As such, there can be no clearer indication that appetite for the region is at an all time high.

The Royal Hotel has all of the right attributes to gain wide ranging interest and continue this momentum via its physical presentation, attainable price point and a tangible sense of ‘blue sky’ for the next operator to realise”, he concluded.